Arrow Electronics, Inc. (NYSE:ARW) Stock Position Increased by AIA Group Ltd

Key Points

• AIA Group Ltd increased its stake in Arrow Electronics by 87.8% in the first quarter, acquiring 2,918 shares and bringing its total holdings to 6,240 shares valued at approximately $648,000.
• Arrow Electronics reported impressive quarterly earnings of $2.43 per share, exceeding expectations by $0.40, and its revenue reached $7.58 billion, marking a 10% increase compared to the previous year.
• Wall Street analysts currently have a consensus rating of "Hold" on Arrow Electronics stock, with target prices ranging from $105.00 to $115.75.

AIA Group Ltd raised its position in Arrow Electronics, Inc. (NYSE:ARW - Free Report) by 87.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,240 shares of the technology company's stock after purchasing an additional 2,918 shares during the quarter. AIA Group Ltd's holdings in Arrow Electronics were worth $648,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Operose Advisors LLC purchased a new stake in Arrow Electronics during the 1st quarter worth about $31,000. CCM Investment Group LLC purchased a new stake in Arrow Electronics during the 1st quarter worth about $611,000. Nuveen LLC purchased a new stake in Arrow Electronics during the 1st quarter worth about $11,634,000. Entropy Technologies LP purchased a new stake in Arrow Electronics during the 1st quarter worth about $1,991,000. Finally, Covestor Ltd increased its holdings in Arrow Electronics by 14.9% during the 1st quarter. Covestor Ltd now owns 1,118 shares of the technology company's stock worth $116,000 after purchasing an additional 145 shares during the period. Institutional investors and hedge funds own 99.34% of the company's stock.

Arrow Electronics Stock Performance

Arrow Electronics stock traded down $2.09 during mid-day trading on Friday, reaching $123.77. 311,510 shares of the company were exchanged, compared to its average volume of 550,184. Arrow Electronics, Inc. has a twelve month low of $86.50 and a twelve month high of $137.80. The firm's 50-day simple moving average is $126.34 and its two-hundred day simple moving average is $115.47. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.07 and a current ratio of 1.39. The firm has a market cap of $6.37 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.60 and a beta of 1.10.

Arrow Electronics (NYSE:ARW - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.40. Arrow Electronics had a return on equity of 8.37% and a net margin of 1.64%. The firm had revenue of $7.58 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the company earned $2.78 earnings per share. The company's revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts predict that Arrow Electronics, Inc. will post 10.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Arrow Electronics news, CEO Sean J. Kerins purchased 8,630 shares of the business's stock in a transaction on Friday, August 1st. The stock was bought at an average cost of $114.91 per share, for a total transaction of $991,673.30. Following the acquisition, the chief executive officer owned 122,408 shares of the company's stock, valued at approximately $14,065,903.28. The trade was a 7.58% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carine Lamercie Jean-Claude sold 2,660 shares of Arrow Electronics stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $124.64, for a total value of $331,542.40. Following the completion of the sale, the senior vice president directly owned 17,057 shares of the company's stock, valued at approximately $2,125,984.48. This represents a 13.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ARW. Wall Street Zen upgraded Arrow Electronics from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Bank of America increased their price objective on Arrow Electronics from $105.00 to $110.00 and gave the company an "underperform" rating in a report on Monday, June 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $115.75.

Arrow Electronics Company Profile

Arrow Electronics, Inc provides products, services, and solutions to industrial and commercial users of electronic components and enterprise computing solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments, Global Components and Global Enterprise Computing Solutions.